Labor costs up by 4.2% in Q2

Nominal hourly labor costs in Poland grew by 4.2 percent year-on-year in the second quarter of 2014, according to data published by the EU’s statistics office Eurostat on Tuesday. Wages grew by 3.6 percent and non-wage costs grew by 6.7 percent. Throughout the EU labor costs grew by 1.2 percent y/y in Q2 2014, with wages growing by 1.2 and non-wage costs up by 1.1 percent. In the euro area total labor cost growth in Q2 was also 1.2 percent. Wages grew by 1.2 percent and other costs rose by 1 percent.